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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/JPY - Monitoring 105.00

USD/JPY is trading mixed but the pair remains within an uptrend channel. A break of hourly support at 102.81 (10/10/2016 low) is unlikely at the moment. Key support can be found at 100.09 (27/09/2016). Hourly resistance is implied by the upper bound of the uptrend channel around 105. Expected to see further bounce within uptrend channel.

We favor a long-term bearish bias. Support is now given at 96.57 (10/08/2013 low). A gradual rise towards the major resistance at 135.15 (01/02/2002 high) seems absolutely unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

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